New Hampshire had 32 insured banks in 2002, nine of which were state-chartered. Total assets for insured banks that year amounted to $29 billion.
Twenty percent of New Hampshire's banks have long-term asset concentrations greater than 30% of earnings assets. This is due in large measure to the large percentage of thrifts and residential lenders in the state, given the fact that mortgage rates in 2001/02 remained low, and borrowers secured long-term fixed-rate loans at lower rates for refinancing purposes. Over one-half of all insured banks in New Hampshire are savings institutions, and residential real estate loans make up 53% of the average loan portfolio in the state.
Personal bankruptcy filings increased in 2002, due to slow income growth rates. Over 45% of New Hampshire's banks report high-risk loan concentration.